Mobile payment applications are set to transform work process. In the article that “Payments work at the heart of multi-channel”, Edgar, Dunn & Associates paint an accurate picture of the way that mobile payment applications will change e-commerce behaviour.

Consumers became very aware and capable of performing on line purchases – especially for pre-planned events like travel, movie tickets and select shopping. We learned how to search and use internet sites to make life easier, more convenient and practical – mainly from home.

With mobile there is the opportunity to further collapse this process through even quicker routines anywhere, anytime. Now with the rapid adoption of Tap & Go credit card processing and similar payment techniques, mobile applications will enable you to pay for things even easier and faster.

Retail stores will need to anticipate to this consumer expectation through being able to accept tap and go together with appropriate scanning capabilities of the goods purchased. EMV, NFC and QR codes all are poised to play a role in the security, speed and links for these transactions to satisfy completion of the sale and transaction.

Digital receipts will boost value for consumers in automating the return, warranty and repair processes for many goods again driven by the preference by consumers for greater convenience and simplicity.

Technology, such as cloud computing, will further crush the barriers giving retailers immense access to low cost storage and enable capture of payment data where consumers believe there is value.

Open forms of opt-in and approved preference all prevalent in social media practices so consumers are already willing to share, exchange, listen and vote through open media forums.

From a business point of view, we witnessed enormous transformation of the transport industry through adoption of Proof of Delivery applications. Consumers receive real time visibility for free and delivery companies that understood and anticipated this demand, won big time.

In fact, Gartner predicts that, “Worldwide mobile payment is expected to have 448 million users and $617 billion in transaction value by 2016.” In North America alone, Gartner is predicting mobile payment user growth of 177 percent from 32.7 million users in 2012 to over 90 million in 2016. *

It is prudent therefore to focus on how your engagement with customers will change as the demand for increased visibility, real time information and convenience influence choices, decisions and business. Customers are looking for retailers that show their willingness to make more personal offers, added benefits and better service.

Retailers can learn fast with a focus on the point of engagement and influence with customers. Empowering staff to capture their experiences and engage more deeply with customers will provide the necessary insight and evidence.

To support this ‘revolution’, a new approach is needed. Mobile technology supported by integrated product and pricing data is set to drive the innovation shift similar to what occurred in transport.

We are also witnessing a sea of change in customer expectations in terms of value, mobility, choice and personalised offers. Customers today are seeking out merchants who offer including loyalty rewards, personalized discounts and other value-add benefits. In response merchants of all shapes and sizes are searching for solutions that support customer needs and wants and drive increment value for their business. With the convergence of new payment types and customer demand for enhanced engagement offers the focus is on customer engagement.